Canada's CanExport Program Prepared to Spend $50 Million to Help Small Business Exports

Small businesses in Canada that want to start exporting their products are getting the support of the Canadian government -- to the tune of $50 million. The Canadian government has set aside this fund to help increase small business exporting.

CanExport program

The CanExport program will reimburse small businesses up to 50 per cent on expenditures between $10,000 and $100,000; the expenditures must be related to expanding trade overseas. Examples of eligible expenditures include costs of travel, trade fairs, market research and other expenses related to exports.

Qualifications

Small businesses who can qualify for the grant program are those with fewer than 250 employees and revenue between $200,000 and $50 million per year. The new program was recently announced by International Trade Minister Chrystia Freeland as funding for small businesses who are looking to export their goods.

Exports are extremely important to the Canadian economy because one in five Canadian jobs are directly related to exports, according to the Department of Global Affairs.

Read more about the program by visiting www.theglobeandmail.com/report-on-business/small-business/going-global/federal-government-launches-50-million-fund-to-boost-small-business-exports/article28030556/